VANCOUVER, BC / ACCESSWIRE / June 21, 2022 / CMC Metals Ltd. (TSXV:CMB)(Frankfurt:ZM5P)(OTC PINK:CMCXF) ('CMC' or the 'Company') is pleased to announce that the first field crews have been mobilized to the Silver Hart Property, Yukon, to prepare for the largest drill program on that property to date. Significant improvements are being made to the camp to support the 2022 exploration program and a camp is also being established to support exploration of the properties in British Columbia.
At our flagship Silver Hart Property the access road has been reopened after some challenging conditions related to record snow levels and high freshet runoff conditions. The drill is being mobilized to site and our geological crew will be at site later this week. Highlights of the proposed program at Silver Hart are as follows:
- This will be CMC's largest drill program to date with an estimated 5,000 meters of drilling planned for this season, focussed on exploring major carbonate replacement ('CRD') targets at Silver Hart. The primary targets are T1 and T4 which have been described in previous news releases (see www.cmcmetals.ca news on February 17, 2022). These are very significant targets.
- An extensive geochemical soil and rock sampling program will be conducted on all conductor targets and to expand on previously identified anomalies.
- Drill core and soil/rock samples will be examined using X-ray diffraction technologies ('XRF') to guide ongoing sampling efforts in real time prior to samples being submitted for assay. This is being done to try and provide better guidance to the exploration team to deal with the ongoing problems of delays in receiving assays from testing facilities. CMC has and continues to work on identifying options for improved turnaround times from assay facilities.
Field crews will also be mobilized to the three properties in British Columbia (i.e., Silverknife, Amy and Rancheria South) this summer.
The Silverknife Property is immediately adjacent to the west of the Silvertip mining claims owned by Coeur Mining Ltd. ('Couer'). Couer have recently announced the identification of a very high-grade silver-lead-zinc zone which they have called 'Camp Creek West' which is in close proximity to the boundary of our claim block with the Silvertip Mine property. On May 11, 2022, CMC also announced the identification of six geophysical anomalies on the Silverknife property. The Company will be conducting geophysical and geological exploration activities on the property this summer and filed a permit for drilling which is currently under assessment and review by the Government of British Columbia. It is hoped that a permit will be received later in this exploration season.
The Amy Property is located approximately 8km to the west of the Silverknife Property and is road accessible. The Company has recently completed an extensive compilation of a very large historical database of exploration data that was garnished from several exploration programs completed by different companies on the property from the early 1960's to the mid 1980's. The Company is reviewing the report and data prepared by SRK Consulting who completed the data compilation and have considerable experience in project work in the Rancheria Silver District. The Company will be releasing the findings of this report in the near future and from that outline expected exploration activities on the property in this season and beyond.
The Rancheria South Property is contiguous with the northwestern corner of the Amy Property and extends eastwards towards the Silvertip Mine Access road. Preliminary examination of the airborne geophysical survey has identified prospective areas of the property in the southeastern portion of the claims and the Company will be releasing information on their findings in the near future as well as summarizing expected exploration activities that will be undertaken on the property in this season and beyond.
Mr. John Bossio, Chairman noted, 'Our Company is very fortunate to have identified highly prospective areas on all five of our exploration properties in the Rancheria Silver District. Our focus will remain on the very significant CRD targets on our flagship Silver Hart Property, but the level of prospectivity on our other properties is very exciting especially with the recent exploration news by Coeur Mining at their Camp Creek West zone. Our plan for this season is very ambitious as we seek to enhance shareholder value by verifying the prospectivity of these areas, especially at Silverknife and Amy, identified from our SkyTem airborne survey as due to COVID we were unable to get into these areas last season.'
Mr. Kevin Brewer, President and CEO noted, 'Exploration in Yukon and northern British Columbia always has its own set of unique challenges. But I am very pleased with the hard work and commitment of our exploration team and service companies. Their hard work has enabled us to commence operations at a time when many Yukon communities are suffering hardships from flooding conditions. Our Company wishes to express our sympathies and best wishes to those families that have been affected by recent flooding events.'
Appointment of Senior Geologist
The Company is very pleased to announce the appointment of Sr. Jesus Costra Mora ('Jesus') to the position of Senior Geologist. Jesus has over 30 years of exploration experience with a specialization in epithermal deposits. He is near completion of a doctoral thesis on the linkage between porphyry and epithermal precious base metal systems. Jesus has been a Senior Geologist with numerous companies including CEMEX, Aurea Mining Inc, Newstrike Capital, Source Exploration Corp. Minerales Inguaran, SA de CV, and others. He has also been a Professor of metallogeny and ore deposits at the Autonomous University of the State of Hidalgo (UAEH) and worked for several years as an independent consultant. Jesus holds a Bachelors Degree in Geology from the Universidad Nacional Autonoma de Mexico (UNAM) and is completing his PhD Studies with the Geophysics Institute of UNAM.
Mr. Kevin Brewer noted, 'We are extremely fortunate to have Sr. Jesus Castro Mora join our team. His experience in epithermal systems and their linkage to porphyry systems will provide invaluable insights into our understanding of the mineralizing systems in the Rancheria Silver District.'
Qualified Person Kevin Brewer, a registered professional geoscientist, is the Company's President and CEO, and Qualified Person (as defined by National Instrument 43-101). He has given his approval of the technical information pertaining reported herein. The Company is committed to meeting the highest standards of integrity, transparency and consistency in reporting technical content, including geological reporting, geophysical investigations, environmental and baseline studies, engineering studies, metallurgical testing, assaying and all other technical data.
About CMC Metals Ltd.
CMC Metals Ltd. is a growth stage exploration company focused on opportunities for high grade polymetallic deposits in Yukon, British Columbia and Newfoundland. Our polymetallic silver-lead-zinc CRD prospects include the Silver Hart Deposit and Blue Heaven claims (the 'Silver Hart Project') and Rancheria South, Amy and Silverknife claims (the 'Rancheria South Project'). Our polymetallic projects with potential for copper-silver-gold and other metals include Logjam (Yukon), Bridal Veil, Terra Nova and Rodney Pond (central Newfoundland).
On behalf of the Board:
John Bossio, Chairman
CMC METALS LTD.
For Further Information and Investor Inquiries:
Kevin Brewer, P. Geo., MBA, B.Sc.(Hons), Dip. Mine Eng.
President, CEO and Director
Tel: (709) 327 8013
Suite 1000-409 Granville St.
To be added to CMC's news distribution list, please send an email to email@example.com or contact Mr. Kevin Brewer directly.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
'This news release may contain certain statements that constitute 'forward-looking information' within the meaning of applicable securities law, including without limitation, statements that address the timing and content of upcoming work programs, geological interpretations, receipt of property titles and exploitation activities and developments. In this release disclosure regarding the potential to undertake future exploration work comprise forward looking statements. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks, including the ability of the Company to raise the funds necessary to fund its projects, to carry out the work and, accordingly, may not occur as described herein or at all. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, the impact of the constantly evolving COVID-19 pandemic crisis and continued availability of capital and financing and general economic, market or business conditions. Readers are referred to the Company's filings with the Canadian securities regulators for information on these and other risk factors, available at www.sedar.com. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.'
SOURCE: CMC Metals Ltd.
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